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Update in San Diego Real Estate: Just SOLD! 838-840 Isthmus Ct, Mission Beach: $1,305,000

Isthmus Ct

Tom’s latest San Diego Real Estate update is his newest sold property, a duplex with 3 lots from Sail Bay. In total the 2 unit building has 7 BRMs, 4 BAs, 2300 interior square feet, a ground level patio, and a small deck off the 3rd story.  One unit (838) was originally built in 1936 and then 840 was constructed in the 1980’s over carport parking. Enjoy Sail Bay or stroll west 2 short beach blocks & you are on Ocean Front Walk with views of sunsets & surf. Near BelmontPark you are close to the Mission Beach plunge, restaurants and shops. The new owner intends to rent to college students during the school year and then weekly renters during the summer months. Projected Gross Income for the year is just shy of $100K. The building is currently undergoing some remodeling & updating. Tom represented the buyer.

Posted By: Tom Mattix 8:44 AM Friday, April 18, 2014

New San Diego Real Estate Listing: 8387 Whalen Dr, San Carlos: $499,990-$519,990

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If “location” is Rule #1 then you better move fast! This charming detached home is located in San Carlos, a community very highly regarded for it’s unsurpassed family neighborhood atmosphere, nearby parks, shopping, restaurants, freeways, great schools, etc. It is just a five minute walk to Cowles Mountain and the San Carlos Farmer’s Market. Gage Elementary School is at the end of the street and the home is a three minute drive to both Lake Murray and Mission Trails Park. There is quick access to Grossmont Mall and downtown La Mesa with numerous retail and restaurants along with access to the 125 & I-8 freeways. This gorgeous 3 BRM, 2 BA classic is pristine and immaculate in every way with a wonderful, inviting curb appeal on a superior street. It is extensively upgraded with a very open floor plan conducive to both family living and entertaining. Enjoy an entry … Continue reading

Posted By: Tom Mattix 8:09 AM Thursday, April 17, 2014

San Diego Mortgage Rates…What to do now?

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Soon-to-be homebuyers hope to capture the best possible interest rates when applying for a mortgage loan and over the past few years, they have been lucky indeed and have snagged some extremely attractive rates. However, with the economy generally headed in a positive direction, the Federal Reserve won’t maintain low interest rates for long. While no one can be certain exactly how the mortgage interest rate picture will end up several months or a year from now, most in the know agree that rates will rise over the next twelve months…perhaps above the five percent mark as soon as the second quarter of this CY. This is a significant change from the extremely low rates seen just 12-15 months ago although even with the expected rise, rates are still very low when compared to what they were leading up to the housing bust. What is the reason that rates will be rising? … Continue reading

Posted By: Tom Mattix 11:24 AM Tuesday, February 4, 2014

What is the Impact on Interest Rates for San Diego Borrowers & Refi’s?

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In its first meeting of 2014, the Federal Open Market Committee (FOMC) yesterday voted to once again cut back on the Fed’s bond-buying program. Starting in February, the Fed will scale its monthly purchases to a combined $65B, down $10B from January’s pace and down from $85B in December. The call to taper the Fed’s purchases was the second in as many FOMC meetings. In its statement, the committee maintained a positive view of economic activity saying indicators points to growth in recent quarters. “Household spending and business fixed investment advanced more quickly in recent months, while the recovery in the housing sector slowed somewhat. Fiscal policy is restraining economic growth, although the extent of restraint is diminishing.” The change in language strikes a more positive tone than the December statement in which the committee noted the extent of restraint “may be“ diminishing. The new Chairman, Janet Yellen noted that our plan … Continue reading

Posted By: Tom Mattix 1:37 PM Thursday, January 30, 2014

San Diego Whale Festival

Whale Days

The free San Diego Whale Festival is a family community event offering a wide variety of interactive and hands on displays to spark the interest and imagination of any child including a walk-through gray whale, live sea creatures, free face painting, a kids art mural coloring project and a giant inflated obstacle course, a trackless train and two giant bounce houses. Enjoy live music on the ”Whale of a stage”  featuring  returning festival favorite,” James Gibson Band” and  Jinnah Williams and  ”Moon Dog”, from Phoenix, AZ.  Crowds loved the past  performances from “Flamenco with Roots” a colorful and passionate local youth dance group so they will appear again, this year on the main stage! Yes, they’ll even have another SPLASH MOB   performing a bit like last year’s group who performed Thriller by Michael Jackson! Time:  11:00 am – 3:00 pm Location:  San Diego Embarcadero, 1066 N. Harbor Dr. – at the foot of Broadway   … Continue reading

Posted By: Tom Mattix 8:33 AM Friday, January 24, 2014

San Diego Real Estate Report – January 2014

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This San Diego real estate video report covers central San Diego County by providing data for 20 communities (e.g., Pacific Beach, downtown, Scripps Ranch, etc.) and within the report I will specifically address the latest data and trends for both detached and attached (condo) homes on home sales, median prices, inventory, changes from the previous month and the same month last year, interest rate trends and more. The video you are about to see is an abbreviated version of my more in-depth “Real Estate Report” which can be viewed as a printable pdf and is available online HERE.

Posted By: Tom Mattix 2:29 PM Friday, January 17, 2014

San Diego Real Estate: Purchasing a home or refinancing your existing loan? Read this!

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For buyers who need to purchase a home with a loan or are planning to refinance an existing loan, expect to see some changes in the loan requirements as of January 10th. The new guidelines are being implemented under The Consumer Financial Protection Bureau’s Qualified Mortgage (QM) Program and are designed to help avoid the catastrophes which caused the housing crisis. “Guidelines” are what lenders use to prove borrowers’ ability to repay a loan and if the mortgages which lenders make do not meet the QM guidelines, the lender will be required to hold the loan as opposed to selling it to Fannie Mae and Freddie Mac. Here are a just a few of the changes that are about to go into effect: • Borrowers must have a maximum debt-to-income ratio of 43 percent. Debt-to-income ratios have already been in place but the new rules will not allow for any … Continue reading

Posted By: Tom Mattix 9:50 AM Tuesday, January 7, 2014

San Diego Real Estate Report – December 2013

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This San Diego real estate video report covers central San Diego County by providing data for 20 communities (e.g., Pacific Beach, downtown, Scripps Ranch, etc.) and within the report I will specifically address the latest data and trends for both detached and attached (condo) homes on home sales, median prices, inventory, changes from the previous month and the same month last year, interest rate trends and more. The video you are about to see is an abbreviated version of my more in-depth “Real Estate Report” which can be viewed as a printable pdf and is available online HERE.

Posted By: Tom Mattix 8:35 AM Thursday, December 19, 2013

Pacific Beach, Mission Beach & San Diego Real Estate Predicted Appreciation

Projected Cumulative Housing Value Changes, end CY 2012 thru 2018

The results of the 20th edition of Home Price Expectation Survey, which was conducted this past October, have just recently been released and I would like to share the San Diego real estate results with my readers. The survey was conducted by Pulsenomics LLC which asked 108 professional economic forecasters, real estate experts, and investment/market strategists to provide predictions for housing market growth over the next 5 years. The survey is conducted quarterly. Here are the results: * The projection for annual home value appreciation for end CY 2013 is an average of 6.7%. Again, this is for the U.S. as a whole. However, keep in mind that through last month (November) single family homes in San Diego have appreciated 16.6% over the past 12 months! * The prediction for U.S. average annual appreciation in home values for 2014 is 4.6 percent.  FYI, the Chief Economist for the California Association … Continue reading

Posted By: Tom Mattix 3:38 PM Wednesday, December 11, 2013

Housing Predictions for 2014? Here’s What Zillow Says

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I thought that it might be interesting to hear from Zillow regarding the housing predictions for 2014 and what they are expecting for the housing market during this coming year. So, here is their “take” and four “bold” predictions for 2014:  U.S. home values will increase by 3 percent  Mortgage rates will crack 5 percent  Borrowers will have easier access to a mortgage  The homeownership rate will drop to its lowest level in 20 years. Zillow’s Chief Economist, Stan Humphries, says that the more modest home value growth he predicts for 2014 reflects a more mature, stable market that will exist a year from now. “In 2014, home value gains will slow down significantly because of higher mortgage rates, more expensive home prices, and more supply created by fewer underwater homeowners and more new construction.” As the housing market resets toward more sustainable, realistic lending standards and home value appreciation expectations, Humphries … Continue reading

Posted By: Tom Mattix 9:12 AM Friday, December 6, 2013

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